Navios Maritime Partners LP Stock Forecast
Red day on Monday for Navios Maritime Partners LP stock after losing 1.15%
(Updated on May 06, 2024)
The Navios Maritime Partners LP stock price fell by -1.15% on the last day (Monday, 6th May 2024) from $44.42 to $43.91. During the last trading day the stock fluctuated 3.09% from a day low at $43.72 to a day high of $45.07. The price has been going up and down for this period, and there has been a 3.73% gain for the last 2 weeks. Volume has increased on the last day by 8 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 102 thousand shares were bought and sold for approximately $4.46 million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $42.75 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 37.39% during the next 3 months and, with a 90% probability hold a price between $58.73 and $75.04 at the end of this 3-month period.
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NMM Signals & Forecast
The Navios Maritime Partners LP stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $43.86 and $42.71. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, March 12, 2024, and so far it has fallen -3.20%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Navios Maritime Partners LP stock
Navios Maritime Partners LP finds support from accumulated volume at $42.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.35 (3.09%) between high and low. For the last week, the stock has had daily average volatility of 2.90%.
Our recommended stop-loss: $42.17 (-3.97%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 38 days ago.)
Trading Expectations (NMM) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Navios Maritime Partners LP to open at $44.23, and during the day (based on 14 day Average True Range), to move between $42.65 and $45.17, which gives a possible trading interval of +/-$1.26 (+/-2.87%) up or down from last closing price. If Navios Maritime Partners LP takes out the full calculated possible swing range there will be an estimated 5.73% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $44.30 (0.89%) than the support at $42.50 (3.21%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Navios Maritime Partners LP stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Navios Maritime Partners LP stock to perform well in the short-term.
Current score: 1.920 Buy Candidate Unchanged
Predicted Opening Price for Navios Maritime Partners LP of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $44.23 ( 0.739%) | $43.91 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NMM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 45.59 | 3.82 % | |
| R2 | 45.07 | 2.64 % | ||
| R1 | 44.75 | 1.92 % | ||
| Current price: | 43.91 | |||
| Support | S1 | 43.72 | -0.438 % | |
| S2 | 43.40 | -1.17 % | ||
| S3 | 42.88 | -2.34 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 45.36 | 3.30 % | |
| R2 | 44.66 | 1.71 % | ||
| R1 | 44.30 | 0.89 % | ||
| Current price | 43.91 | |||
| Support | S1 | 42.50 | -3.21% | |
| S2 | 40.89 | -6.88% | ||
| S3 | 36.38 | -17.15% |
NMM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 09, 2024 | May 09, 2024 | May 14, 2024 | $0.0500 | 0.114% |
| 2 | Feb 02, 2024 | Feb 09, 2024 | Feb 14, 2024 | $0.0500 | 0.162% |
| 3 | Oct 26, 2023 | Nov 06, 2023 | Nov 13, 2023 | $0.0500 | 0.231% |
| 4 | Jul 26, 2023 | Aug 07, 2023 | Aug 11, 2023 | $0.0500 | 0.211% |
| 5 | Apr 28, 2023 | May 08, 2023 | May 12, 2023 | $0.0500 | 0.219% |
FAQ
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